Franco Nevada (FNV) Given New C$119.00 Price Target at Canaccord Genuity

Franco Nevada (TSE:FNV) (NYSE:FNV) had its price objective lowered by equities researchers at Canaccord Genuity from C$120.00 to C$119.00 in a research report issued to clients and investors on Thursday. Canaccord Genuity’s target price would indicate a potential upside of 40.00% from the company’s previous close.

A number of other equities research analysts also recently commented on FNV. Desjardins upgraded Franco Nevada from a “sell” rating to a “hold” rating in a research report on Saturday, October 6th. JPMorgan Chase & Co. cut their price objective on Franco Nevada from C$103.50 to C$97.50 in a research report on Tuesday, October 9th. National Bank Financial cut their price objective on Franco Nevada from C$107.50 to C$102.50 in a research report on Saturday, July 14th. Finally, CSFB reiterated a “neutral” rating on shares of Franco Nevada in a research report on Wednesday, September 26th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Franco Nevada currently has an average rating of “Hold” and a consensus target price of C$112.79.

Shares of TSE:FNV opened at C$85.00 on Thursday. Franco Nevada has a one year low of C$76.53 and a one year high of C$110.18.

Franco Nevada (TSE:FNV) (NYSE:FNV) last announced its quarterly earnings data on Wednesday, August 8th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.38 by C($0.01). Franco Nevada had a net margin of 34.99% and a return on equity of 5.21%. The company had revenue of C$208.18 million for the quarter, compared to analyst estimates of C$225.13 million.

In other news, Director Jeffery Jenkins sold 5,000 shares of the stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of C$62.52, for a total value of C$312,600.00.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.

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